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jb071394
New Member

Put ira distribution in turbo tax as a pension. doesn't affect tax (fed or state) but do I need to amend the returns

 
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Put ira distribution in turbo tax as a pension. doesn't affect tax (fed or state) but do I need to amend the returns

Unless you had a non-deductible "basis" in the Traditional IRA, I would not worry about it.   If ever contacted by the IRS a phone call should take care of it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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3 Replies

Put ira distribution in turbo tax as a pension. doesn't affect tax (fed or state) but do I need to amend the returns

Unless you had a non-deductible "basis" in the Traditional IRA, I would not worry about it.   If ever contacted by the IRS a phone call should take care of it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
dmertz
Level 15

Put ira distribution in turbo tax as a pension. doesn't affect tax (fed or state) but do I need to amend the returns

Now that both IRAs and pensions are combined on line 4 of Form 1040, reporting a traditional IRA distribution as a pension distribution would have no noticeable effect on your tax return unless, as macuser_22 said, you have basis in nondeductible traditional IRA contributions.
jb071394
New Member

Put ira distribution in turbo tax as a pension. doesn't affect tax (fed or state) but do I need to amend the returns

Thank you
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